Market Overview - The metal new materials sector experienced a decline of 3.25% on October 31, with AnTai Technology leading the drop [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Notable gainers in the metal new materials sector included: - Shenzhen New Star (603978) with a closing price of 26.55, up 4.53% on a trading volume of 260,000 shares and a turnover of 706 million yuan [1] - Youyan Powder Materials (688456) closed at 48.70, up 2.79% with a trading volume of 17,500 shares and a turnover of 85.36 million yuan [1] - Major decliners included: - AnTai Technology (000969) closed at 21.24, down 8.65% with a trading volume of 2,030,300 shares and a turnover of 440.3 million yuan [2] - Jinli Permanent Magnet (300748) closed at 39.18, down 6.87% with a trading volume of 792,000 shares and a turnover of 3.137 billion yuan [2] Capital Flow - The metal new materials sector saw a net outflow of 1.629 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.477 billion yuan [2] - The capital flow for specific stocks showed mixed results, with some stocks experiencing significant outflows from institutional and speculative investors [3]

Core Viewpoint - Jiangnan New Materials, a significant player in the domestic copper-based new materials sector, has demonstrated strong technical capabilities and market competitiveness in research, production, and sales of copper-based new materials [1] Group 1: Business Performance - In Q3 2025, Jiangnan New Materials reported revenue of 7.569 billion, ranking second among 18 companies in the industry, with the top company, Bowei Alloy, generating 15.474 billion [2] - The main business revenue composition includes copper ball series at 3.775 billion, accounting for 78.30%, and copper oxide powder series at 832 million, accounting for 17.26% [2] - The net profit for the same period was 165 million, placing the company fourth in the industry, with Bowei Alloy leading at 881 million [2] Group 2: Financial Ratios - As of Q3 2025, Jiangnan New Materials had a debt-to-asset ratio of 60.30%, slightly down from 61.17% year-on-year, but higher than the industry average of 43.99% [3] - The gross profit margin for Q3 2025 was 3.95%, which is below the industry average of 15.62% [3] Group 3: Executive Compensation - The chairman, Xu Shangjin, received a salary of 204,000 for 2024, a decrease of 6,400 from 2023 [4] - The general manager, Xu Yite, earned 647,600 in 2024, an increase of 24,600 from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 60.29% to 9,904, while the average number of circulating A-shares held per account increased by 156.98% to 2,950.9 [5] - The top circulating shareholders include new entrants such as Huaxia Industry Prosperity Mixed A, holding 1.6299 million shares, and Huaxia Excellent Growth Mixed A, holding 847,000 shares [5]

Group 1: Company Performance - Anker Innovation reported a revenue of 21.019 billion with a year-on-year growth of 27.79% and a net profit of 1.933 billion, up 31.34% [1] - Hongjing Technology achieved a revenue of 15.510 billion, a staggering growth of 595.49%, and a net profit of 107.5 million, increasing by 448.91% [1][2] - CICC recorded a revenue of 20.761 billion, growing by 54.36%, and a net profit of 6.567 billion, up 129.75% [3] - Tongfeng Electronics reported a revenue of 1.072 billion, with an 11.37% increase, and a net profit of 79.91 million, up 28.88% [4] - Changshu Bank achieved a revenue of 9.052 billion, growing by 8.15%, and a net profit of 3.357 billion, up 12.82% [6] - Jingfeng Mingyuan reported a revenue of 1.117 billion, with a 2.67% increase, and a net profit of 23.33 million, turning from loss to profit [8] - Magmita's revenue was 6.791 billion, growing by 15.05%, but net profit fell by 48.29% to 213 million [9] - Huilong Pharmaceutical reported a revenue of 742 million, down 12.92%, with a net loss of 50.8047 million [10] - Dongwei Semiconductor achieved a revenue of 964 million, growing by 41.60%, and a net profit of 48.55 million, up 58.46% [22] - Spring Autumn Electronics reported a revenue of 3.197 billion, with a 7.21% increase, and a net profit of 231 million, up 63.91% [24] - Jiangnan New Materials achieved a revenue of 7.569 billion, growing by 18.34%, and a net profit of 165 million, up 21.95% [25] - Fuda Alloy reported a revenue of 3.497 billion, with a 30.03% increase, and a net profit of 55.5042 million, up 33.52% [26] - Zhongjin Gold achieved a revenue of 53.976 billion, growing by 17.23%, and a net profit of 3.679 billion, up 39.18% [28] - Shoukai Holdings reported a revenue of 23.186 billion, with a 60.31% increase, but a net loss of 3.105 billion [29] - Nanshan Aluminum achieved a revenue of 26.325 billion, growing by 8.66%, and a net profit of 3.772 billion, up 8.09% [30][32] Group 2: Company Background - Anker Innovation specializes in the research, design, and sales of consumer electronics products, including mobile device peripherals and smart hardware [1] - Hongjing Technology focuses on providing comprehensive solutions in smart living, urban management, and smart parks [2] - CICC is engaged in investment banking, equity sales and trading, proprietary investment and trading, wealth management, and investment management [3] - Tongfeng Electronics specializes in the research, production, and sales of film capacitors and their materials [4][5] - Changshu Bank provides retail banking, corporate banking, financial market services, and village bank services [6][7] - Jingfeng Mingyuan focuses on the research and sales of power management and control driver chips [8][9] - Magmita specializes in the research, production, and sales of smart home control products, power products, and industrial automation products [9] - Huilong Pharmaceutical is involved in the research, production, and sales of innovative and high-quality generic drugs for cancer treatment [10][11] - Dongwei Semiconductor specializes in the research and sales of high-performance power devices [22][23] - Spring Autumn Electronics focuses on the research, design, production, and sales of precision molds and components for consumer electronics [24] - Jiangnan New Materials specializes in the research, production, and sales of copper-based new materials [25][26] - Fuda Alloy focuses on the research, production, and sales of electrical contact materials [26][27] - Zhongjin Gold is involved in geological exploration, mining, and smelting of gold and non-ferrous metals [28][29] - Shoukai Holdings specializes in real estate development, property management, urban renewal, and real estate finance [29][30] - Nanshan Aluminum focuses on the development, production, processing, and sales of aluminum and aluminum alloy products [30][31][32]

Group 1 - Jiangnan New Materials (603124.SH) reported its Q3 2025 results on October 30, 2025, with 29 institutional investors holding a total of 40.7848 million shares, representing 27.98% of the total share capital [1] - The top ten institutional investors collectively hold 24.64% of the shares, with an increase of 0.97 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, two funds increased their holdings, accounting for 1.14% of the total [2] - Seven new public funds disclosed their holdings this quarter, including notable names such as Huaxia Excellent Growth Mixed A and Hongli Revival Mixed A [2] - A total of 2,180 public funds did not disclose their holdings this quarter, including funds like Yongying Technology Smart Selection Mixed A and E Fund Reform Dividend Mixed [2]

Core Insights - Jiangnan New Materials experienced a stock price increase of 2.34% on October 29, with a trading volume of 267 million yuan [1] - The company reported a net financing outflow of 11.82 million yuan on the same day, with a total financing balance of 91.53 million yuan, accounting for 3.33% of its market capitalization [1][2] - For the period from January to September 2025, Jiangnan New Materials achieved a revenue of 7.569 billion yuan and a net profit attributable to shareholders of 165 million yuan, reflecting a year-on-year growth of 21.95% [2] Financing and Trading Data - On October 29, Jiangnan New Materials had a financing buy-in amount of 21.5164 million yuan and a financing repayment of 33.3405 million yuan [1] - The company had no short selling activity on the same day, with a short selling balance of 0 yuan [1] - As of October 29, the total margin trading balance was 91.53 million yuan [1] Shareholder and Institutional Holdings - As of September 30, 2025, Jiangnan New Materials had 9,904 shareholders, a decrease of 60.29% from the previous period [2] - The average number of circulating shares per shareholder increased by 156.98% to 2,950 shares [2] - The top institutional shareholders include Huaxia Industry Prosperity Mixed A, Huaxia Excellent Growth Mixed A, and others, all of which are new shareholders [2]

Group 1 - Jiangnan New Materials (SH 603124) announced on October 29 that its 15th meeting of the second board of directors was held on October 28, 2025, combining on-site and communication voting methods [1] - The company reported that for the year 2024, its revenue composition is 99.97% from copper-based new materials and 0.03% from other businesses [1] - As of the report date, Jiangnan New Materials has a market capitalization of 13.7 billion yuan [1]

Core Viewpoint - Jiangnan New Materials (603124) reported strong financial performance for Q3 2025, indicating robust growth in both revenue and net profit [1] Financial Performance - The company's Q3 2025 revenue reached 2.748 billion yuan, representing a year-on-year increase of 20.03% [1] - Net profit for Q3 2025 was 59.65 million yuan, showing a significant year-on-year growth of 60.5% [1] - For the first three quarters of 2025, total revenue amounted to 7.569 billion yuan, reflecting an 18.34% year-on-year increase [1] - The net profit for the first three quarters of 2025 was 165 million yuan, which is a year-on-year growth of 21.95% [1]

Core Insights - Jiangnan New Materials (603124.SH) reported a total operating revenue of 7.569 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 18.34% [1] - The net profit attributable to shareholders of the parent company reached 165 million yuan, marking a year-on-year increase of 21.95% [1] - The basic earnings per share stood at 1.24 yuan [1]

二、关于公司聘任证券事务代表的情况 2025 年 10 月 28 日，公司召开第二届董事会第十五次会议，审议通过《关 于聘任证券事务代表的议案》，同意聘任周池先生（简历详见附件）担任公司证 券事务代表，协助董事会秘书开展工作，任期自本次董事会审议通过之日起至第 二届董事会任期届满之日止。周池先生具备担任证券事务代表所必需的专业知识、 工作经验和相关素养，其任职资格符合《公司法》《上海证券交易所股票上市规 则》等相关法律法规和规范性文件的规定。 证券代码：603124 证券简称：江南新材 公告编号：2025-038 江西江南新材料科技股份有限公司 关于变更证券事务代表的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、关于公司证券事务代表辞职的情况 江西江南新材料科技股份有限公司（以下简称"公司"）董事会于近日收到 公司证券事务代表靳盘飞先生的辞职报告，靳盘飞先生因个人原因申请辞去公司 证券事务代表职务，辞职后靳盘飞先生将不再担任公司任何职务。靳盘飞先生的 辞职报告自送达董事会之日起生效。 靳盘飞先生在担任公司证券事务代 ...

证券代码：603124 证券简称：江南新材 公告编号：2025-037 江西江南新材料科技股份有限公司 第二届董事会第十五次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 江西江南新材料科技股份有限公司（以下简称"公司"）于 2025 年 10 月 23 日以电子邮件方式发出第二届董事会第十五次会议通知，会议于 2025 年 10 月 28 日以现场结合通讯表决的方式召开。本次会议应出席董事 9 人，实际参加表 决董事 9 人，会议由董事长徐上金先生主持。会议的召集和召开符合《中华人民 共和国公司法》等有关法律、法规和规范性文件及公司章程的规定。 二、董事会会议审议情况 （一）审议通过《关于 2025 年第三季度报告的议案》 公司 2025 年第三季度报告严格按照《上海证券交易所股票上市规则》等有 关规定进行编制。报告内容真实、准确、完整，不存在任何虚假记载、误导性陈 述或者重大遗漏。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 （二）审议通过《关于聘任证券事务代表的议案》 同意 ...